What Has Insiders Of These Companies Unloading Their Shares?

Let’s move on to G-III Apparel Group Ltd. (NASDAQ:GIII), a designer and manufacturer of a range of apparel products that has seen strong insider selling activity lately. Sammy Aaron, who has been Vice President and Director since G-III acquired the Marvin Richards business back in July 2005, reported selling 27,159 shares at prices ranging from $64.75-to-$65.73. The executive currently holds an ownership stake of 468,930 shares. Furthermore, Chairman and Chief Executive Officer Morris Goldfarb sold 90,499 shares at a weighted average price of $65.06, on top of an additional 59,815 shares that were sold to satisfy tax obligations in relation to the vesting of restricted stock units. The executive currently owns approximately 3.57 million shares. Chief Operating Officer Wayne S. Miller also sold 11,191 shares at a weighted average sale price of $64.79 and an additional 23,809 shares to satisfy tax obligations, trimming his stake to 221,698 shares. The shares of G-III have advanced by more than 26% since the beginning of the year, partly thanks to the company’s robust wholesale and retail performance. Jacob Gottlieb’s Visium Asset Management added a 208,000-share position in G-III Apparel Group Ltd. (NASDAQ:GIII) during the second quarter.

Last but not least, we will look into the insider selling activity at Carnival plc (ADR) (NYSE:CUK). Michael Olaf Thamm, who has been the Chief Executive Officer of Costa Crociere S.P.A. of Carnival since July 2007, reported selling 6,943 shares at an average price of roughly $50.64 per share. It is also worth mentioning that the executive received 427 shares, representing the settlement of dividend equivalents accumulated during the restricted period from his restricted stock units that had vested. Following these transactions, the executive owns 45,484 shares. The shares of the cruise company are 14% in the green year-to-date; thus, there is no surprise why the executive decided to cash out a portion of his stake given the current stock market uncertainty. Earlier this week, Carnival announced its intentions to deploy two additional cruise brands in China in 2017, in an attempt to expand its operations in the country to meet the increasing demand from travelers there. Israel Englander’s Millennium Management reported owning 88,502 shares of Carnival plc (ADR) (NYSE:CUK) in its 13F filing for the June quarter.

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